Recently I was visiting a friend of mine. In the course of our conversation, she kept using the adjective cheap referring to the fact that I was cheap. Cheap or cheap skate refers to a mean or stingy person. I felt bad and then finally I pointed out that just the sport coat that I was wearing was about $550 and she shut up. It was an uncharacteristic reaction from my end considering that I do not try to alter how somebody perceives me. For one it is a waste of time and you really don't know if that act infact changed their perception of you.
What really mattered, matters and will matter to me was how I felt about myself. I am conservative with my finances. I live within my means. I don't believe in paying a car loan and try to save as much as possible. I am this way because of my dad. He started from scratch just with his degree was very disciplined saved up as much as possible and invested it to the best of his ability. He did all of this so that his children and wife could have a better life.He was a giant success.
Unfortunately on several occasions, he was misunderstood and people thought he was cheap. This could have been because of his wardrobe which was not up to the mark or he was against me buying a Hercules top gear bicycle. But, let us consider those situations, he was against buying new clothes because the old ones were still good to wear and a bicycle is a depreciating asset and in his mind was not worth the extra thousand rupees. The other thousand could be put to a better use. However, the very same people who criticized him when he was making and standing by those decisions conveniently neglected the fact that he spent money taking us on vacations all over India, spent money on hindi classes for years that developed our personalities and improved our knowledge of our own country.
I am exactly the same with my finances. When I graduated from college, I did not go to a car dealer and buy myself a $20K car. I bought a $600 bicycle that I rode for 2 years in rain and shine and built up my savings. I don't make $100K a year like some of my lucky friends. However, I did save half my after tax income for 2-3 years. This helped me spend about $40K to get a house and a decent car. I did all these while giving gifts to friends during christmas, going kayaking and doing many more fun things and enjoying my life. So now tell me am I cheap or a man with a plan who is living within his means? I know the answer. So, am I going to worry the next time someone calls me cheap? I don't think I will waste time or worry if my efforts infact changed their perception of who I really am.
What really mattered, matters and will matter to me was how I felt about myself. I am conservative with my finances. I live within my means. I don't believe in paying a car loan and try to save as much as possible. I am this way because of my dad. He started from scratch just with his degree was very disciplined saved up as much as possible and invested it to the best of his ability. He did all of this so that his children and wife could have a better life.He was a giant success.
Unfortunately on several occasions, he was misunderstood and people thought he was cheap. This could have been because of his wardrobe which was not up to the mark or he was against me buying a Hercules top gear bicycle. But, let us consider those situations, he was against buying new clothes because the old ones were still good to wear and a bicycle is a depreciating asset and in his mind was not worth the extra thousand rupees. The other thousand could be put to a better use. However, the very same people who criticized him when he was making and standing by those decisions conveniently neglected the fact that he spent money taking us on vacations all over India, spent money on hindi classes for years that developed our personalities and improved our knowledge of our own country.
I am exactly the same with my finances. When I graduated from college, I did not go to a car dealer and buy myself a $20K car. I bought a $600 bicycle that I rode for 2 years in rain and shine and built up my savings. I don't make $100K a year like some of my lucky friends. However, I did save half my after tax income for 2-3 years. This helped me spend about $40K to get a house and a decent car. I did all these while giving gifts to friends during christmas, going kayaking and doing many more fun things and enjoying my life. So now tell me am I cheap or a man with a plan who is living within his means? I know the answer. So, am I going to worry the next time someone calls me cheap? I don't think I will waste time or worry if my efforts infact changed their perception of who I really am.
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